Heroes of Ukraine

«Market Leader» - news and previews making you rich.

Friday, 20 September 17:23 (GMT -05:00)



Business And Politics News

Chinese IT Innovations as an Example for the Resto of the World


China seems to have been trying hard to revolutionize the Internet and entire IT industry through innovation. The international expert community has been seriously discussing the possibility of China setting a good example for the rest of the world when it comes to innovation.
 

 

 

 

British anthropologist Tom McDonald settled down in a tiny Chinese village 4 years ago in order to study the local approach to using social networks. At this point, the expert has arrived at a conclusion that the local online world is pretty dynamic and innovation-driven. He says that for some strange reason, the western world thinks that the Chinese Internet is kind of boring, with a wide range of various limitations for the user. Meanwhile local users are creative while the local online world is full of life and resembles a carnival.
 
At the same time, the expert says that the local Internet offers even more opportunities than the one in relatively bigger locations of the Western world. For instance, the expert says that in the village he has been living for the last 4 years, they have started using $G networks while in his native Yorkshire this is still something that’s missing. This is basically why the expert says he has been so interested in those contrasts. In today’s China, even rural citizens are active internet users and have access to the all the advanced solutions the local online world can offer them.
 
On top of that, this tendency in China keeps on getting momentum thanks to which China has already outpaced the Western world in terms of the amount of available online services, including online payment systems, as well as the ways to use them.
 
The whole point is, if the western nations want to see their online future, the should look at China. The stats say that China has been among the leaders in terms of internet users for the last decade. Back in 2008, China even outpaced the United States. At this point, around 700 million Chinese go online on a regular basis, with most of them enjoying high-speed internet connection. Apparently, most of them leave in megalopolises, but 178 millions of them still leave in relatively small towns with population of several thousand people.
 
How do Chinese go online?
 
The 2 most popular social networks in China are WeChat and QQ. At the same time Sina Weibo – a micro-blogging service – has fewer users even though this is the most popular Chinese network outside China. Apparently, instant messaging has been the most popular function used in the social networks since they make it possible to avoid e-mails for both personal and corporate needs, the expert says. By the way, he says that in China they believe that it’s necessary to make friends with colleagues, and social networks really help people get in tough on a regular basis, especially as they have to devote a lot of time to maintaining those relations.
 

 

At the same time, WeChat and QQ are more than just an alternative to e-mail. For instance, QQ offers personal pages with animation, as well as some other features making it possible to maintain schedules, to-do lists, diaries to tell the world about the most important events in your life and so much more, including games, both local and international ones. The bottom line is, QQ can be called an updated Facebook with tons of extra features. At the same time, the expert offers an interesting analogy for WeChat, which is “WhatsApp on steroids”.  The so-called Drift Bottle feature makes it possible to type a short message and send it to the open virtual sea for someone else to find and read it. The app also allows the user to see other users nearby. This feature resembles such popular dating apps as Tinder and Grindr. If you are feeling lonely, you can just shake your smartphone and this gesture will make you visible for people nearby who don’t mind chatting with others. This feature is especially popular with students.

3.jpg

McDonald left China in 2014. Since then the Chinese segment of the Internet has improved a lot and got tons of innovative products and services, including internal currencies used in social networks. Those funds can be used to pay for almost anything, from ordering pizza to taxi. You can even pay your bills and buy tickets with that virtual money. At this point, this online payment method is even more popular than credit or debit cards. Chinese don’t simply copy foreign IT solutions. If you visit WeChat, AliBaba and TaoBao, you will find services unavailable in Western peers, which is why Western companies also has something to learn from their Asian peers.

 

You are free to discuss this article here:   forum for traders and investors

 

Add to blog
Got a question? – Ask it here »
 

Fed Cuts Key Interest Rate For The First Time In 10 Years

The U.S. Federal Reserve is reported to have cut the key interest rate, which is something really outstanding since the Fed has done it for the first time since 2009.

Publication date: 11 August 03:05 AM

New Prime Minister Names Brexit Date

It seem that the new Prime Minister of the United Kingdom is really determined about everything related to the Brexit. The process is expected to start in later 2019. Boris Johnson's standpoint on the matter didn't come as a surprise to the international expert community, Market Leader reports. The thing is, he has been well-known for being an advocate ad big supporter of quitting the European Union in general, and doing so without a major agreement in particular, which is also known as the hard Brexit scenario. 

Publication date: 07 August 06:54 AM

Johnson Launches Hard Brexit Ad Campaign

Boris Johnson, who has recently been appointed new UK Prime Minister, is on his way to launch an ad campaign to promote the idea of quitting the EU the hard way, which is also known as the hard Brexit. For those of you who don't know, the hard Brexit scenario implies quitting the European Union without signing a major agreement.

Publication date: 31 July 11:43 AM

U.S-China Trade War Is Sponsored By Consumers

According to the IMF, consumers and producers are the biggest losers in the trade war between the United States and China. Despite growing duties, American companies are not in a hurry to move their production back to the USA.

Publication date: 12 July 01:19 AM

US-China Trade Conflict May Trigger Another Global Financial Crisis

Beijing and Washington are one step away from escalating their trade conflict. The confrontation may harm the entire global economy. Some experts belive that the trade war may also trigger another global financial crisis. At this point, the parties seem to have come to a standstill, which is why the chances of the conflict escalating into a move severe trade war are still growing.

Publication date: 18 June 10:18 AM

WTO Lowers Global Trade Growth Forecast

 WTO experts are reported to have revised their forecast for the pace of global trade growth. The renewed forecast names figures below the previous ones - 2,6% against 3,7%. It's also interesting to note that the previous forecast for 2018 failed to match the actual figures.

 
Publication date: 19 May 02:58 AM

How to Protect Investment Capital in 2019?

Existing political and economic risks are pushing international investors into thinking about the security of their investment capital. Chasing big profits becomes secondary to this kind of security.

Publication date: 31 March 11:26 AM

EU Comes Up With Workaround to US Sanctions

The representatives of Germany, France, and the UK have registered a company to let it trade with Iran despite the US sanctions. The company still needs to be approved by 28 EU members.

Publication date: 31 March 02:33 AM

Beijing and Washington are getting ready for the final talks

Publication date: 17 February 08:58 AM

US-China Trade War Reaches Next Level

Washington and Beijing have announced a new round of talks. International experts say that the trade war is indeed going to a whole new level.
Publication date: 08 January 10:17 AM